The James Group is pleased to announce the sale of 13950-13960 Burbank Blvd, sixteen units on two adjacent parcels in Sherman Oaks, closed at $3,275,000.
The offering consisted of two eight unit buildings, each on its own parcel, with a uniform mix of sixteen one bedroom apartments totaling 9,632 square feet. Rents were roughly 41% below market, and the two-parcel configuration with a large rear yard opened the door to detached ADUs under SB 1211. Buyers responded to the combination of a clean unit mix, embedded rental upside, and a Sherman Oaks address minutes from Ventura Blvd and the 101 and 405.
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